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CDFA Revolving Loan Fund Finance Update - March 10, 2020

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Revolving Loan Funds Update
March 10, 2020
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Revolving Loan Fund Finance Update

Features

EPA Announces $2.7B for Water Infrastructure State RLFs
The U.S. Environmental Protection Agency announced the availability of $2.7 billion for State Revolving Funds. EPA provides funding to all 50 states and Puerto Rico to capitalize SRF loan programs. The states and Puerto Rico contribute an additional 20 percent to match the federal grants. The 51 SRF programs function like infrastructure banks by providing low-interest loans to eligible recipients.

3CORE Receives $1.8M Loan Fund from U.S. Commerce Department
The U.S. Department of Commerce's Economic Development Administration has provided $1.8 million in financing to local nonprofit 3CORE, Inc. to boost businesses in areas hit hard by recent disasters. The capital will be available to small businesses in Butte, Glenn and Tehama counties affected by the Camp Fire in 2018 as well as the severe winter storms, flooding, landslides and mudslides in spring of 2019.

$1.8M Awarded to Disaster-Impacted Butte, Glenn, and Tehama Counties
The Commerce Department's Economic Development Administration awarded $1.8 million to 3CORE, Inc. of Chico to establish a Revolving Loan Fund to generate jobs and spur $6 million in private investment to wildfire-impacted Butte, Glenn, and Tehama counties. 

FY2020 Supplemental Funding for Brownfields Revolving Loan Fund (RLF) Grantees
The Environmental Protection Agency (EPA) plans to make available approximately $5 million to provide supplemental funds to Revolving Loan Fund (RLF) cooperative agreements previously awarded competitively under section 104(k)(3) of the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA).

MN Expected to Approve $50M in Loan Assistance for Farmers
The Minnesota House passed legislation this past week appropriating $50 million bond funds for the Rural Finance Authority (RFA), a state entity that offers low-interest loan programs to farmers. This comes due to existing funds being nearly depleted and there is an urgent need to replenish the account to guarantee more loan availability.

CDFI Fund, CDRLF Allow CUs to Reach Underserved Communities
The Treasury's CDFI Fund and NCUA's CDRLF are two important funds that help credit unions advance underserved communities, CUNA wrote to the House Appropriations subcommittee on financial services and general government (FSGG) Tuesday. The administration's budget request does not include any new funds for the CDFI Fund or the CDRLF.

AHC Inc. Repayments to Arlington's Housing Loan Fund Top $45M
AHC Inc., an Arlington, VA-based affordable housing developer, deposited more than $710,000 this week into the County's revolving low-interest loan program, the Affordable Housing Investment Fund (AHIF). This year's annual repayment boosts AHC's total repayments to more than $45 million since the AHIF program began in 1988.

EPA Awards $96M to MI for Surface and Drinking Water
The U.S. Environmental Protection Agency (EPA) announced the availability of $2.7 billion for State Revolving Funds, including $96,048,000 for the state of Michigan. This funding assists states, tribes, and territories with infrastructure projects that help protect surface water and provide safe drinking water to communities across the country.

Upcoming Events
CDFA Federal Policy Conference

CDFA // BNY Mellon Development Finance Webcast Series: To TIF or Not to TIF?
Tuesday, March 17, 2020 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series experts will examine the best strategies local governments and analysts are using to determine appropriate TIF assistance levels.

CDFA // BNY Mellon Development Finance Webcast Series: The Performance of Social Impact Bonds
Tuesday, April 21, 2020 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will explore if the performance of Social Impact Bonds (SIBs) is living up to the hype and how SIBs can be used as a powerful tool for community development.

Headlines

Amherst, VA Considering Revolving Loan Fund to Grow Business
WDBJ7 | Mar. 10 | Revolving Loan Funds (RLFs)

Businesses Aren't Taking Advantage of Local RLF
The McDonough County Voice | Mar. 10 | Community Development | Revolving Loan Funds (RLFs)

County Letting East Butte Tax District Fade Away Next Year
The Montana Standard | Mar. 8 | Revolving Loan Funds (RLFs) | Tax Increment Finance (TIF)

St. Pete Preservationists Get Grant to Save Historic Properties
Tampa Bay Times | Mar. 7 | Historic Preservation | Revolving Loan Funds (RLFs)

Home Savings Donation Gives MVEDC an ‘Edge'
The Business Journal | Mar. 6 | Access to Capital | Revolving Loan Funds (RLFs)

The City of Kewanee Has Money Available to Loan to Local Businesses
Pontiac Daily Leader | Mar. 5 | Access to Capital | Public-Private Partnership (P3) Financing | Revolving Loan Funds (RLFs)

A Capital Idea for Business in Parker
The Denver Post | Mar. 2 | Access to Capital | Revolving Loan Funds (RLFs)

Houlton, ME Provides Education About TIF and RLF Programs
The County | Feb. 29 | Community Development | Revolving Loan Funds (RLFs) | Tax Increment Finance (TIF)

Action to Replenish MN Rural Finance Authority Ag Loans
D Globe | Feb. 26 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs) | Rural Development

Fresno, CA Microfinance Org Focuses on Loans to Women-owned Businesses
The Business Journal | Feb. 26 | Access to Capital | Food Systems Finance | Revolving Loan Funds (RLFs) | Rural Development

EPA Announces More Than $200M for Infrastructure Projects
EPA | Feb. 25 | Revolving Loan Funds (RLFs) | Water Finance

MO Farmers Will Have Access to More Loans With Senate Bill
Missourian | Feb. 24 | Access to Capital | Agriculture Finance | Food Systems Finance | Legislative | Revolving Loan Funds (RLFs)

Springfield Area Revolving Loan Fund to Help Business in Region
Vermont Business Magazine | Feb. 21 | Access to Capital | Local Finance Program | Revolving Loan Funds (RLFs) | U.S. Dept. of Commerce (DOC) | U.S. Economic Development Administration (EDA) | Access to Capital\Revolving Loan Funds (RLFs) | Access to Capital\Entrepreneurial Financing | Revolving Loan Funds (RLFs)\EDA Revolving Loan Fund Grant Program | U.S. Economic Development Administration (EDA)\EDA Revolving Loan Fund Grant Program

Aitkin Growth Offers Loan Fund
Aitkin Age | Feb. 17 | Access to Capital | Revolving Loan Funds (RLFs) | U.S. Dept. of Agriculture (USDA) | Access to Capital\Revolving Loan Funds (RLFs)

Great Falls Ready to Move Ahead With $1.7 M Agri-Tech Drainage Project
Great Falls Tribune | Feb. 12 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Tax Increment Finance (TIF) | Water Finance | Water Finance\Stormwater

Unruly Brewing to Begin Canning Thanks to Loan From City of Muskegon
WZZM13 | Feb. 11 | Access to Capital | Food Systems Finance | Local Finance Program | Revolving Loan Funds (RLFs) | Access to Capital\Revolving Loan Funds (RLFs)


New Additions to the Online Resource Database

California Rural Infrastructure Finance Guidebook
Access to Capital | Agriculture Finance | Bond Finance | Brownfield Financing | CDFA Original Research | Community Development | Disaster Recovery & Relief | Economic Development | Energy Finance | Food Systems Finance | Green Finance | Housing Finance | Incentives | Infrastructure Finance | Innovation Finance | Local Finance Program | Opportunity Zones | Public-Private Partnership (P3) Financing | Revolving Loan Funds (RLFs) | Resiliency | Rural Development | Social Finance | State Finance Program | Tax Credits | Tax Increment Finance (TIF) | Water Finance | Urban Development
CALED knows from its work supporting economic development throughout California that infrastructure financing is a challenge for many rural communities. CALED collaborated with CDFA to develop this guidebook to meet the need for a resource to help build capacity in those areas, as well as move economic development projects forward.


The Council of Development Finance Agencies (CDFA) is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private, and non-profit entities alike. For more information, visit www.CDFA.net or email info@cdfa.net


Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net

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CDFA National Sponsors

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  • NW Financial Group, LLC
  • Petros PACE Finance
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  • U.S. Bank
  • Wells Fargo Securities
  • Wilmington Trust
  • Z. The Bond Buyer
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